Barcelona-based Flanks, a fintech company specializing in AI-driven wealth management solutions, has raised €14 million in an equity round.
The investment was led by New York-based Motive Ventures, with participation from Battery Ventures, Earlybird, JME Ventures, and 4Founders Capital.
Revolutionizing Wealth Advisory with Data-Driven Automation
The startup has developed Flanks LUME, an end-to-end platform that automates data aggregation, streamlines workflows, and enhances financial advisory services. The technology allows wealth managers to:
- Access a 360-degree view of client portfolios (including non-financial assets).
- Automate data processing to reduce manual workload.
- Generate personalized investment insights for clients.
Since its last funding round, Flanks has expanded into France and the UK, helping Tier 1 banks deliver highly automated and holistic wealth management services.
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Scaling Across Europe & Future Growth Plans
With this latest funding, the firm aims to:
- Accelerate its European expansion.
- Enhance AI-driven portfolio management tools.
- Introduce automated investment proposals and order execution features.
Currently, the company processes 500,000+ portfolios per month, working with over 100 banks and financial institutions managing portfolios worth $39 billion.
Investor Confidence in WealthTech Innovation
Ramin Niroumand, Head of Motive Ventures, highlighted Flanks’ potential:
“Flanks is solving a key challenge in wealth management by leveraging AI to automate financial advisory services. They are well-positioned to lead the next phase of digital transformation in the industry.”
With a growing team of 75+ employees and strong investor backing, the fintech is set to redefine data-driven wealth management, helping advisors deliver smarter, faster, and more efficient financial services.
